Notorious Lazarus Group Suspected of $4 Million Alex Labs Exploit Attack
Until now, the explanation for the $4 million attack has remained a mystery to many, as Bitcoin second-layer developer Alex Labs has attributed the hacker group North Korea’s Lazarus Group as the culprit for the attack. The discovery came after an investigation following the attack in May 2024.
Exploit Found
The hack took place on May 16 and targeted Alex Labs’ BNB Smart Chain Bridge; $4.3 million in funds were stolen. Additionally, $13.7 million worth of Stacks (STX) tokens were stolen and laundered through different CEXs.
On June 20, Alex Labs announced that hackers had broadcasted more than 11,800 STX staking token transactions.
According to the team’s latest tweet, Alex Labs worked with on-chain detective ZachXBT to track down the stolen assets to three wallets. Among all the mined addresses, one of them, 0x418e…0c4e, is directly attributed to the initial exploit.
The funds sent from this address were transferred to another address “0x63…BeA3” and then withdrawn to a Tron wallet associated with the Lazarus Group. Given the hacking group or Lazarus Group is allegedly controlled by North Korea and targets cryptocurrency companies.
Measures taken by the team
In response to the attack, Alex Labs worked with the Singapore police and multiple exchanges. As a result, more than $3.9 million in STX transferred by the suspected impostor was frozen.
Now, Alex Labs has directly stressed to the community in a tweet how they focus on transparency and embrace security. Alex Labs continues to work with the police, law enforcement, and cyber forensics agencies to recover the rest of the stolen funds. The DeFi protocol promises to continue to provide updates and ensure that they enhance security to deal with future incidents.
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